Ripple’s $10 million allocation of Ripple USD (RLUSD) to support small-business lending could generate as much as $900 million in gross domestic product (GDP) over the next decade, according to research commissioned by the company.
The projection was highlighted on X on 12 October by Jonathan Perri, Ripple’s social impact director. The underlying findings were published on 8 October by Accion Opportunity Fund (AOF), a non-profit lender supporting underserved small businesses.
The lending allocation is part of Ripple’s wider $15 million RLUSD donation to AOF in 2025. Unlike a one-off loan, the contribution is intended to remain available as permanent capital, helping AOF secure borrowing and continue lending as repayments are recycled.
Perri said the donation “could help generate as much as $900 million in new GDP over the next decade.”
An earlier estimate of about $250 million in economic output was based on a $50 million loan pool being recycled approximately 2.5 times. That calculation used an annual output of roughly $2 for every dollar lent, while the latest estimate measures the cumulative effect over 10 years.
The research suggests Ripple’s $10 million contribution could help AOF attract up to $50 million in additional debt capital from impact investors. Based on historical lending patterns, repayments could then support further borrowing, resulting in approximately $156 million in cumulative lending over the decade.
The study was funded by Ripple and produced with TXP and ideas42. It examined nearly 20,000 businesses and $960 million in loans. Researchers used the U.S. Bureau of Economic Analysis’ Regional Input-Output Modeling System, which estimates how activity in one sector affects the broader economy.
Historical results in the research included $5.46 billion in GDP, more than 60,000 retained jobs and over 10,000 new jobs.
Ripple’s remaining $5 million donation supports education, research and a storytelling campaign, including the Digital Leap Forward Accelerator. The programme helps small-business owners adopt digital tools and strengthen their financial knowledge. Ripple’s original non-profit funding commitment also included Hire Heroes USA, which supports veterans and military spouses seeking employment.
The donation was made in RLUSD, a digital token designed to maintain a value linked to the U.S. dollar. While dollar-pegged stablecoins can move funds across blockchain networks, the projected economic impact comes from borrowing, repeat lending and activity generated by the businesses receiving finance. The $900 million figure is based on historical multipliers and actual results may differ.
Ripple has also used RLUSD in education initiatives. Its $25 million commitment supported DonorsChoose and Teach For America, with most of the funding delivered in RLUSD. DonorsChoose reported that 48,108 classroom projects across all 50 states were funded in the first year.
Institutional services linked to RLUSD are also expanding. Standard Chartered launched RLUSD custody on the XRP Ledger on 12 October through its branch in the Dubai International Financial Centre.
A separate planned partnership involving Ripple and LMAX Group would allow eligible tokens to be used as trading collateral while remaining in bank custody. Collateral is an asset pledged to secure trading obligations.
AOF is due to hold a public discussion with Ripple and its research partners on 30 October at 1 p.m. EDT.
